Futures trader pick: Bitcoin USD-margin longs jump 4.47 points, Ether accounts gain 2.89

Bitcoin’s USD-margined long-position share jumped 4.47 percentage points, while Ether’s USD-margined long-account share increased 2.89 points.

As of Oct. 17, Bitcoin’s USD-margined long-position share stood at 63.49%, up 4.47 percentage points from the previous day. Ether rose 1.68 points to 62.68%, while Solana gained 1.88 points to 69.92%.

Changes in coin-margined positions were generally limited. Ether’s long share fell 1.1 percentage points to 76.55%. Bitcoin edged down 0.07 points to 71.37%, while XRP, Solana and Dogecoin changed by 0.98, minus 0.09 and minus 0.7 points, respectively.

By account, Ether recorded the clearest increase in the USD-margined market, with its long-account share rising 2.89 percentage points to 68.65%. Bitcoin gained 1.86 points to 64.61%, while XRP and Solana rose 1.47 and 0.67 points, respectively.

Coin-margined long-account shares were little changed from the previous day. XRP rose 0.52 percentage points to 87.09%, and Solana gained 0.39 points to 85.54%. Bitcoin slipped 0.08 points to 77.63%, Ether added 0.1 points to 80.4%, and Dogecoin rose 0.08 points to 90.98%.

Editor’s note: Trading patterns among leading cryptocurrency futures traders can offer a gauge of market positioning and sentiment. The data requires additional interpretation, however, because some traders may use futures contracts to hedge spot holdings.

USD-margined contracts are commonly used for short-term trading and hedging with less collateral-price exposure. Coin-margined contracts use cryptocurrency as collateral and may appeal to traders seeking leveraged exposure while retaining crypto holdings.

This article is based on market data and does not constitute investment advice.